Looking for a quick loan between ₹5,000 and ₹1,00,000? Small loan apps offer fast and convenient solutions for your urgent financial needs. These apps, provided by banks, NBFCs, and fintech companies, allow eligible users to get personal loans instantly. Whether you need funds for an emergency, travel, or personal expenses, these apps have got you covered.
To apply, simply download the app, check your eligibility, and submit your application—all from the comfort of your smartphone.
Basic Eligibility for Small Loan Apps:
- Indian Citizenship: You must be a citizen of India.
- Age: 18 to 60 years.
- Documents: Aadhaar and PAN cards.
- Mobile Number: Linked to your Aadhaar.
- Income: Minimum monthly income of ₹10,000.
- CIBIL Score: 600+.
- Bank Account: Active account required.
- Previous Loans: No outstanding loans in your name.
Top 10 Best Small Loan Apps in 2024
Here are the 10 best small loan apps, trusted by millions of users in India. These apps offer fast approval, easy documentation, and quick disbursement into your bank account.
| Loan App | Loan Amount Range |
|---|---|
| MoneyView | ₹5,000 to ₹5,00,000 |
| MoneyTap | ₹3,000 to ₹5,00,000 |
| LazyPay | ₹10,000 to ₹1,00,000 |
| Fibe | ₹3,000 to ₹5,00,000 |
| HomeCredit | ₹10,000 to ₹2,40,000 |
| mPokket | ₹500 to ₹30,000 |
| Ring | ₹5,000 to ₹1,00,000 |
| Finnable | ₹500 to ₹30,000 |
| Nira | ₹1,000 to ₹2,00,000 |
| KreditBee | ₹5,000 to ₹1,00,000 |
1. MoneyView
MoneyView is a trusted app for personal loans up to ₹5 lakh, with simple eligibility checks. With over 1 crore downloads and RBI approval, it’s one of the safest options for quick loans.
- Loan Amount: ₹5,000 to ₹5 lakh
- Interest Rate: 16% p.a.
- Loan Tenure: 3 to 60 months
- Processing Fees: NA
2. MoneyTap
MoneyTap offers a flexible credit line, where you only pay interest on the amount you use. Loans start from as little as ₹3,000, making it ideal for small expenses.
- Loan Amount: ₹3,000 to ₹5 lakh
- Interest Rate: 12% p.a.
- Loan Tenure: 3 to 36 months
- Processing Fees: 0% to 7%
3. LazyPay
LazyPay allows users to get loans up to ₹5 lakh in just 90 seconds. The loan application is paperless, and it’s perfect for those who need funds without a hassle.
- Loan Amount: ₹10,000 to ₹5 lakh
- Interest Rate: 15% to 32% p.a.
- Loan Tenure: 3 to 24 months
- Processing Fees: ₹200
4. Fibe
Fibe (formerly EarlySalary) is great for quick personal loans with flexible repayment options. The app offers loans up to ₹5 lakh with a simple, digital process.
- Loan Amount: ₹5,000 to ₹5 lakh
- Interest Rate: ₹9 per day
- Loan Tenure: 3 to 24 months
- Processing Fees: NA
5. HomeCredit
HomeCredit allows you to get personal loans with minimal documentation. Even with a low CIBIL score, you can still apply for loans up to ₹5 lakh.
- Loan Amount: ₹10,000 to ₹5 lakh
- Interest Rate: 18% to 24% p.a.
- Loan Tenure: 6 to 48 months
- Processing Fees: 0 to 5%
6. mPokket
Designed for students and young professionals, mPokket offers small loans starting from ₹500. It’s a great choice for students needing financial help.
- Loan Amount: ₹500 to ₹30,000
- Interest Rate: 2% to 4% p.m.
- Loan Tenure: 61 to 120 days
- Processing Fees: NA
7. Ring
Ring is a digital-first app offering loans up to ₹2 lakh. Known for its fast approvals, you can get a loan in as little as 5 minutes.
- Loan Amount: ₹5,000 to ₹2 lakh
- Interest Rate: 18% to 36% p.a.
- Loan Tenure: 3 to 24 months
- Processing Fees: 0 to 5%
8. Finnable
Even if you don’t have a high CIBIL score, Finnable offers loans from ₹50,000 to ₹10 lakh. It’s ideal for those looking for a loan with flexible EMIs and no collateral.
- Loan Amount: ₹50,000 to ₹10 lakh
- Interest Rate: 16% to 27.6% p.a.
- Loan Tenure: 3 to 12 months
- Processing Fees: 3% + GST
9. Nira
Nira provides personal loans up to ₹2 lakh with simple eligibility requirements. It’s registered with the RBI, ensuring that your data is secure.
- Loan Amount: ₹1,000 to ₹2 lakh
- Interest Rate: Varies
- Loan Tenure: 3 to 24 months
- Processing Fees: NA
10. KreditBee
KreditBee offers small loans starting from ₹5,000. It’s quick, easy, and perfect for emergencies when you need money fast.
- Loan Amount: ₹5,000 to ₹1 lakh
- Interest Rate: 15% to 30% p.a.
- Loan Tenure: 3 to 15 months
- Processing Fees: Varies
Features of Instant Loan Apps:
- Quick and Paperless: No need for physical documentation.
- Fast Approval: Loans are approved within minutes.
- Track Loan Status: Monitor your loan application and repayment schedule through the app.
- Convenient Repayment: Choose from multiple EMI options and pay directly from the app.
How to Apply for a Loan from Small Loan Apps:
- Download your preferred loan app.
- Register with your mobile number and verify via Aadhaar and PAN.
- Check your eligibility for the loan.
- Enter the loan amount and select the tenure.
- Upload the necessary documents for KYC.
- Once approved, the loan is credited to your bank account within minutes!
Choose any of these 10 best small loan apps to get a fast and hassle-free loan today!